Lam Research Co. (NASDAQ:LRCX) Stock Position Raised by Larson Financial Group LLC

Larson Financial Group LLC raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 20,995.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,063 shares of the semiconductor company’s stock after acquiring an additional 5,039 shares during the period. Larson Financial Group LLC’s holdings in Lam Research were worth $4,131,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LRCX. Jennison Associates LLC boosted its stake in shares of Lam Research by 20.0% during the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after buying an additional 39,725 shares during the period. Creative Planning boosted its position in Lam Research by 2.5% during the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after purchasing an additional 1,146 shares during the period. Vest Financial LLC grew its holdings in Lam Research by 68.7% during the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after purchasing an additional 14,658 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Lam Research by 9.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock valued at $278,165,000 after purchasing an additional 28,089 shares during the period. Finally, Benson Investment Management Company Inc. acquired a new stake in shares of Lam Research in the third quarter worth $5,182,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Mizuho reduced their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.97.

Lam Research Stock Down 0.7 %

Shares of NASDAQ LRCX opened at $72.64 on Friday. The business has a 50-day simple moving average of $76.93 and a two-hundred day simple moving average of $87.32. Lam Research Co. has a 52 week low of $68.72 and a 52 week high of $113.00. The company has a market cap of $93.47 billion, a P/E ratio of 23.48, a P/E/G ratio of 1.16 and a beta of 1.48. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period last year, the firm posted $6.85 earnings per share. Research analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.27%. Lam Research’s payout ratio is currently 29.74%.

Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.